The Document Management System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Document Management System Global Market Report 2024, The document management system market size has grown rapidly in recent years. It will grow from $8 billion in 2023 to $9.16 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to shift from paper-based to digital documentation, regulatory compliance and records management, corporate digitization initiatives, introduction of document imaging and scanning, emergence of enterprise content management (ecm) solutions.
The document management system market size is expected to see rapid growth in the next few years. It will grow to $14.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to adoption in emerging markets and smes, focus on user experience and mobile accessibility, migration to hybrid and cloud-centric models, rise in data security concerns, increasing demand for remote work solutions. Major trends in the forecast period include integration with business applications, emphasis on remote work and collaboration tools, implementation of blockchain technology, adoption of mobile-friendly interfaces, focus on cybersecurity and compliance.
The emergence of paperless offices is expected to drive the growth of the document management systems market going forward. A paperless office refers to a workplace that operates with minimal paper-based processes and relies more on digitized documents to carry out daily business operations. Document management solutions in paperless offices provide for easier management and storage of digital files, allowing employees to effortlessly exchange and review digital files. For instance, in June 2021, Prasar Bharathi, a public broadcaster in India, adopted 100% e-office operations that have enhanced the speed and transparency in the working of the organization and have created more than 50,000 e-files with the status of every file available online. Therefore, the emergence of paperless offices is expected to propel the growth of the document management systems market.
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The document management system market covered in this report is segmented –
1) By Offering: Solutions, Services
2) By Deployment Mode: On-Premise, Cloud-Based, Hybrid
3) By Organization: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Banking, Financial Services, And Insurance, Government, Education, Healthcare, Corporate, Industrial Manufacturing, Retail, Other Applications
Major companies operating in the document management system market are innovating cutting-edge document management tools, such as Documents SE, to address the need for efficient management of policies and procedures. Documents SE is a document management tool designed to assist organizations in efficiently managing policies and procedures. For instance, in March 2022, ShipNet, a Norway-based provider of cloud ERP software solutions for the maritime industry, launched Documents SE, a new document management tool designed to assist organizations in handling policies and procedures, such as the ISM Code or OCIMF recommendations, ensuring safety, and environmental compliance. The tool allows for efficient management, distribution, and tracking of different policies across fleets, providing visibility into the progress and status of documents. With an easy-to-use search function and flexible structure, Documents SE enhances user experience, and its notification mechanism ensures users stay informed about revisions or assignments. Integrated into the ShipNet One ecosystem, it offers web-based accessibility, platform independence, and seamless file management.
The document management system market report table of contents includes:
1. Executive Summary
2. Document Management System Market Characteristics
3. Document Management System Market Trends And Strategies
4. Document Management System Market – Macro Economic Scenario
5. Global Document Management System Market Size and Growth
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31. Global Document Management System Market Competitive Benchmarking
32. Global Document Management System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Document Management System Market
34. Document Management System Market Future Outlook and Potential Analysis
35. Appendix
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